MSRB Publishes Updated and Enhanced Online Glossary of Municipal Securities Terms

Date: August 13, 2013

Contact: Jennifer A. Galloway, Chief Communications Officer
             (703) 797-6600


Alexandria, VA – The Municipal Securities Rulemaking Board (MSRB) today published a fully updated version of its online Glossary of Municipal Securities Terms, featuring newly defined terms and updated definitions that reflect changes in the municipal securities market.  

“Public interest in the municipal market has never been greater and many people are unfamiliar with the standard terminology used in this complex market,” said MSRB Executive Director Lynnette Kelly. “The MSRB glossary is a convenient online reference tool for the public and others for understanding commonly used terms in the market.”  

The MSRB’s glossary, now in its third edition, is the only resource of its kind that provides the public, investors, state and local governments and other market participants with free access to municipal market terminology. The glossary is accessible from both the MSRB’s website and from the Electronic Municipal Market Access (EMMA®) website. The glossary’s enhanced search functionality suggests related terms as text is entered and additional cross-links provide quick access to related terms. 

The glossary is for educational purposes only, and the MSRB reminds financial professionals to consult MSRB rules for compliance purposes. 

The MSRB welcomes feedback from glossary users to assist in keeping the glossary up-to-date and relevant for municipal market participants.

The MSRB protects investors, state and local governments and other municipal entities, and the public interest by promoting a fair and efficient municipal securities market. The MSRB fulfills this mission by regulating the municipal securities firms, banks and municipal advisors that engage in municipal securities and advisory activities. To further protect market participants, the MSRB provides market transparency through its Electronic Municipal Market Access (EMMA®) website, the official repository for information on all municipal bonds. The MSRB also serves as an objective resource on the municipal market, conducts extensive education and outreach to market stakeholders, and provides market leadership on key issues. The MSRB is a self-regulatory organization governed by a 21-member board of directors that has a majority of public members, in addition to representatives of regulated entities. The MSRB is overseen by the Securities and Exchange Commission and Congress.